Jacobs Levy Equity Management Inc. Makes New $5.57 Million Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Jacobs Levy Equity Management Inc. bought a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 226,654 shares of the company’s stock, valued at approximately $5,569,000.

Other hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. purchased a new stake in Alkami Technology during the 4th quarter valued at about $43,000. Quest Partners LLC purchased a new stake in shares of Alkami Technology during the fourth quarter valued at approximately $113,000. Acadian Asset Management LLC bought a new stake in shares of Alkami Technology during the first quarter valued at approximately $140,000. Harvest Fund Management Co. Ltd raised its holdings in Alkami Technology by 253.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock worth $182,000 after acquiring an additional 5,445 shares during the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in Alkami Technology in the 4th quarter valued at approximately $232,000. 54.97% of the stock is owned by institutional investors.

Alkami Technology Stock Performance

NASDAQ:ALKT traded down $0.15 on Tuesday, hitting $32.69. The stock had a trading volume of 359,331 shares, compared to its average volume of 401,748. The business’s 50-day simple moving average is $28.90 and its two-hundred day simple moving average is $26.23. Alkami Technology, Inc. has a 52-week low of $14.93 and a 52-week high of $34.47. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) earnings per share. Sell-side analysts predict that Alkami Technology, Inc. will post -0.38 earnings per share for the current year.

Insider Activity

In related news, insider Stephen Bohanon sold 12,450 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $28.66, for a total value of $356,817.00. Following the transaction, the insider now directly owns 449,552 shares of the company’s stock, valued at approximately $12,884,160.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the transaction, the chief financial officer now owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Bohanon sold 12,450 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $28.66, for a total transaction of $356,817.00. Following the completion of the sale, the insider now directly owns 449,552 shares of the company’s stock, valued at $12,884,160.32. The disclosure for this sale can be found here. Insiders sold a total of 1,848,472 shares of company stock valued at $49,241,550 in the last 90 days. Company insiders own 38.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALKT. JMP Securities increased their target price on Alkami Technology from $30.00 to $35.00 and gave the company a “market outperform” rating in a research note on Monday, July 22nd. Barclays lifted their price objective on Alkami Technology from $28.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Alkami Technology in a research report on Tuesday, June 25th. Finally, Craig Hallum raised their price target on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus price target of $28.56.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.